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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Gresham Hotel | GHL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | - |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| Top Posts |
|---|
Posted at 08/5/2003 13:50 by adobbing The Sunday Times - Business March 30, 2003 Gresham investor leaves bourse Des Crowley RED SEA HOTELS, the Israeli company that controls 28.3% of Gresham Hotels group, has left the Tel Aviv stock exchange. In a separate move, Tom Byrne, who sits on the board of Gresham, bought 100,000 shares in the Irish hotel group last week. Despite the Israeli delisting and Byrne's share purchases, Patrick Coyle, chief executive of Gresham, said management has no plans to take the hotel chain private. Coyle said Red Sea's decision to leave the Tel Aviv stock exchange did not necessarily mean the Israelis were disillusioned with having a public vehicle. "Gresham's quote is much better than a quote on Tel Aviv, which is a small stock exchange," said Coyle. "We have both an Irish and London quote." The Tel Aviv exchange has a small number of stocks associated with the hotel industry but market capitalisations are generally small. Some hotel chains are valued as low as $5m while none approach $70m. Byrne said his purchase of shares could not be linked to any corporate activity. "After the figures were released I was able to buy shares," he said. "I thought that they were good value at 62c and put them in my personal pension fund.". Red Sea now had little or no property interests in Israel, said Byrne, and this was another reason for the company to withdraw from Tel Aviv. |
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